I've identified a local mom & pop retailer that also offers wholesale prices on a particular premium product (which they import from overseas themselves). I'm interesting in buying in bulk from them, re-branding and retailing online to a niche market that I think they are overlooking (or maybe can't access themselves). Any tips on how to approach them, or pitfalls to avoid? There might be potential for a joint venture if it was structured properly.
I would offer them a proposal to reveal their source to you in exchange for a small percentage or fixed amount of each unit ordered. You would also need to structure the offer in such a way as to guaranty that you would not compete with them or circumvent them, if they agree then you would need a legal contract drawn up between you and them